Middle East: Lead Market 2024

Lead Market Size in the Middle East

In 2022, the Middle Eastern lead market increased by 9.9% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Lead Production in the Middle East

In value terms, lead production expanded markedly to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -30.4% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 44% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Lead Exports

Exports in the Middle East

In 2022, lead exports in the Middle East fell to X tons, declining by -12.2% on the previous year's figure. Total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +16.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 33%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, lead exports reduced to $X in 2022. Total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +27.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 50% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons), distantly followed by Saudi Arabia (X tons), Lebanon (X tons), Turkey (X tons), Israel (X tons) and Iraq (X tons) represented the largest exporters of lead, together constituting 90% of total exports. Iran (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +40.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest lead supplying countries in the Middle East were the United Arab Emirates ($X), Saudi Arabia ($X) and Lebanon ($X), with a combined 67% share of total exports. Israel, Turkey, Iraq and Iran lagged somewhat behind, together comprising a further 27%.

Among the main exporting countries, Iraq, with a CAGR of +41.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, with a decrease of -3.2% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 17%. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Israel ($X per ton) and Turkey ($X per ton), while Iran ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+1.0%), while the other leaders experienced more modest paces of growth.

Lead Imports

Imports in the Middle East

In 2022, supplies from abroad of lead increased by 19% to X tons, rising for the second consecutive year after three years of decline. Total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.4% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 21% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, lead imports surged to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 35%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) was the major importer of lead, constituting 84% of total imports. It was distantly followed by the United Arab Emirates (X tons), generating an 11% share of total imports. Oman (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the lead imports, with a CAGR of +7.2% from 2012 to 2022. At the same time, the United Arab Emirates (+2.6%) displayed positive paces of growth. Oman experienced a relatively flat trend pattern. While the share of Turkey (+22 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (-1.6 p.p.) and Oman (-2.5 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) constitutes the largest market for imported lead in the Middle East, comprising 84% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total imports.

In Turkey, lead imports increased at an average annual rate of +7.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+0.2% per year) and Oman (-1.1% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, stabilizing at the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 17% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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